Bill Gates sees his fortune plummet in philanthropic actions and is overtaken by a former protégé

Summary Bill Gates fell to 12th place among the world's richest people after donating $52 billion to philanthropy, while Steve Ballmer, former CEO of Microsoft, surpassed him with a fortune of $173 billion.
"I was lucky, essentially, to be able to listen to the right people," is how businessman and former Microsoft CEO Steve Ballmer explains, in part, the origin of his $173 billion fortune. A former aide to Bill Gates, considered the richest man in the world for 18 years, Ballmer now finds himself ahead of his former mentor in Bloomberg 's index of the world's richest billionaires .
The philanthropic efforts coordinated by Gates and his ex-wife Melinda have significantly reduced the billionaire's net worth in just over a week. As of July 3, the Microsoft founder ranked fifth among the richest people, with an estimated fortune of $175 billion.
However, just days later, the tycoon's net worth dropped by $52 billion, dropping him to 12th place, behind tech entrepreneur Michael Dell, reflecting Gates' philanthropic efforts. The drop occurred after Bloomberg 's rankings were updated.
And Bill Gates himself expects this fortune to 'return to society' much more quickly than he originally planned when he created the Gates Foundation. In a blog post on May 8th, the businessman stated that he has a prediction for the 'end' of his money.
"I will give away virtually my entire fortune, through the Gates Foundation, for the next 20 years, to saving and improving lives around the world. And on December 31, 2045, the foundation will close its doors permanently," he wrote.
"People will say many things about me when I die, but I am determined that 'he died rich' will not be one of them. There are too many pressing problems for me to keep resources that can be used to help people," he also said.
The 'fall' in Bill Gates' wealth for charity, while not new, has now opened the way for the tycoon to see a former disciple overtake him on the list of the richest people in the world: former Microsoft CEO Steve Ballmer.
Ballmer joined the technology company at a time when Microsoft was far from what it became. He was hired as Gates's assistant in 1980, becoming the company's 30th employee. He forwent an MBA from Stanford to receive a base salary of $50,000 a year and a 10% cut of any profit growth he generated.
As Microsoft grew exponentially, Ballmer's percentage began to cause the company a loss and he had to renegotiate his contract, opting for an 8% stake in the company.
The exchange sparked protests from co-founder Paul Allen, who accused the percentage of being too large, but Bill Gates 'funded' the assistant based on his own participation.
He later became CEO of Microsoft and led the company from 2000 to 2014, holding 333 million shares, or a 4% stake, worth a total of $22.5 billion when he left office. He explains that his fortune came from being in the right place at the right time and not selling shares too early.
Ballmer also invested in areas other than technology, such as when he purchased the Los Angeles Clippers basketball team and NBA franchise for $2 billion in 2014. Today, the team is valued at $5.5 billion.
And it's not just in his wealth that Ballmer follows in Bill Gates' footsteps, but also in his affinity for philanthropy. He has donated over $4 billion and founded the Ballmer Group, a nonprofit focused on improving the economic mobility of American families.
"If anyone says their success is a result of genius, I'd tell them to look at luck. Forget the stock price. I was essentially lucky in being able to listen to the right people. But I was also lucky in terms of my loyalty to the company and not wanting to be a salesman as the leader of the business," he told The Wall Street Journal in 2024.
*With Estadão Content.
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